Chairperson, Graduate Committee: James R. Brown.Cochran, Andrew Carl2013-06-252013-06-252009https://scholarworks.montana.edu/handle/1/1087While extensive literature documents the venture capital impact around the initial public offering, little is known about the enduring effects of venture financing. This paper follows the post-IPO performance of venture-backed U.S. firms in different IPO cohorts from 1970 to 2006, and measures the duration of any venture capital advantages after the IPO. Venture capital strongly correlates with higher R&D and market-to-book ratios ("q"), and venture-backed firms grow faster and perform better particularly in high-tech industries. This apparent advantage for venture-backed firms remains for years following the IPO.enBusiness enterprisesVenture capitalGoing public (Securities)ThesisCopyright 2009 by Andrew Carl Cochran